Metro cuts staff in Denmark

Metro Denmark, publisher of free dailies MetroXpress and 24timer, will cut back its workforce in Denmark by 20 to 25%. The reduction will involve employees from both MetroXpress and 24 Timer. Anders Kronborg, Chairman of the Board in Denmark, said:

We are taking these difficult actions not only in response to the current industry conditions, but also to realize synergies between MetroXpress and 24 Timer which was part of the strategy for acquiring a stake in 24 Timer earlier this year. Synergies will mainly be generated in the editorial departments; however all other functions will be affected as well.

The moves announced today are expected to produce annual savings in the 2009 fiscal year of about € 2.0 million. The company expects that the workforce reduction will also result in a charge in the fourth quarter of 2008 of approximately € 0.6 million for estimated cash severance payments. (Metro International)

One Response to “Metro cuts staff in Denmark”

  1. Newspaper Innovation » Blog Archive » MetroXpress/24timer ax 13 jobs Says:

    [...] Danish free dailies MetroExpress and 24timer will go on with 13 less staff members because of economic problems at the free dailies combination (see also previous post). [...]